Consistency of Risk Attitude and other Investment Behavior of Japanese Fund Managers

Masayuki Susai and Hiroshi Moriyasu
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Masayuki Susai: Nagasaki University, Japan
Hiroshi Moriyasu: Nagasaki University, Japan

Chapter 10 in Studies on Financial Markets in East Asia, 2011, pp 165-180 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractIn this paper, we investigate risk consistency and other investment behaviors of fund managers working at Japanese investment institutions using a questionnaire based survey that was conducted in October of 2005. In particular, we focused on the herding behavior and disposition effect of fund managers. We found that ‘risk inconsistent’ fund managers have a tendency to show disposition behavior. As for herding behavior, we could not find any strong evidence that might indicate a difference between the two groups.

Keywords: Financial Market; Foreign Exchange Rate; Sub-prime Crisis; Real Estate Market; Relationship Banking; Dividend and Share; Stock Market; Government Bond; Hedging; IPO; Return; Volatility; Liquidity; Risk Attitude; Investment Behavior; Fund Managers (search for similar items in EconPapers)
Date: 2011
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